$1.$ Use Template $1$ to complete the analysis.

a$.$ Create the amortization spreadsheet and answer the following questions for a $$450,00030-$year mortgage fixed$-$rate, constant$-$payment mortgage.

The mortgage rate is $6\mathrm{.}75\%$ with monthly payments. The borrower is paying $1\mathrm{.}5$ points upfront and there is a $5\%$ prepayment penalty.

Assume you are purchasing the home for $$600,000.$

b$.$ What is the APR $($annual percentage rate$)$ on the loan assuming the loan is paid off at maturity? $($In other words, what is the yield on the mortgage?$)$

c$.$ What is the unpaid balance after $5$years?

d$.$ What is the APR $($the yield$)$ on the mortgage if it is prepaid after $7$ years?